One Corporate Activity That Is Specifically Reserved for the Board

question 25

Multiple Choice

One corporate activity that is specifically reserved for the board of directors is the:

• A) declaration of dividends.
• B) custody of records.
• C) preparation of budgets.
• D) day-to-day operation of the firm.

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Definitions:

Peripheral Countries

Are former colonies that are poor and are major sources of raw materials and cheap labor.

Semiperipheral Countries

Such as South Korea, Taiwan, and Israel, consist of former colonies that are making considerable headway in their attempts to industrialize.

Gross National Product

The total value of all goods and services produced by a country's residents and businesses, regardless of where the production takes place, over a specific time period.

Gross Domestic Product

The total value of all goods and services produced within a country over a specific time period, a primary indicator of economic health.